It's great news that the films are going ahead. I guess for the second movie there'll be much reading of stuff like the Unfinished Tales and Christopher Tolkien's History of Middle Earth sequence! I'm a big fan of Del Toro's Spanish language stuff and reckon his visual sensibility is perfect for The Hobbit!

Who knows . . . maybe, one day, we'll get to see Quenta Silmarillion and The Children of Húrin turned into movies too! :)